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<h1>Chargeable interest defined: credit institutions' interest excludes interbank loans; bad debt interest recognised on crediting or receipt.</h1> Chargeable interest of a credit institution is the total interest accruing or arising in the previous year, excluding interest on loans and advances to other credit institutions or cooperative banking societies. Interest relating to bad or doubtful debts is deemed to accrue in the year it is credited to the institution's profit and loss account or actually received, whichever is earlier.